News 

American billionaires paid less in taxes in 2018 than the working class, analysis shows — and it’s another sign that one of the biggest problems in the US is only getting worse

“Between 1950 and 1980, billionaires paid more than 50% in taxes, Saez and Zucman found” writes Taylor Nicole Rogers for businessinsider.com. In 2018, billionaires paid a smaller portion of their income in taxes than average Americans.The idea has support from ultra-wealthy and ordinary Americans alike: An Insider poll shows that more than half of Americans support Warren’s wealth tax proposal.”Last year my federal tax bill — the income tax I paid, as well as payroll taxes paid by me and on my behalf — was $6,938,744,” Buffet wrote in The Times.”The US tax system is a giant flat tax — except at the top, where it’s regressive,” Saez and Zucman wrote in “The Triumph of Injustice.”.
 
Source: businessinsider.com



Related posts